Major steelmaker NKK Corp. said Tuesday that it will begin to supply electric power to trading house Mitsubishi Corp. this summer, making it the first Japanese steelmaker to retail electricity.
Following government deregulation of electricity sales to large-lot users in March, NKK launched a project to make better use of its power generating systems and facilities, it said.
Mitsubishi is expected to resell the electricity -- to be received from NKK's Keihin plant in Kawasaki and possibly other non-power companies -- to other users.